The lubricant market size value per capita in China has shown a general upward trend from 2013 to 2023, reaching $3.03 in 2023. The year-on-year variation for 2022-2023 indicates an increase of approximately 4.1%. The compound annual growth rate (CAGR) over the last five years is around 4.2%. This consecutive growth suggests a stable demand for lubricants made of less than 70% petroleum oil, except for textile and leather use.

Future trends to watch:

Potential increase in demand for eco-friendly lubricants as sustainability becomes a key focus.
Technological advancements in lubricant formulations possibly spurring further market growth.
Economic conditions and regulations in China affecting market dynamics.